The Ascend propane hydrogenation (PDH) project will be located at a site near Houston, according to regulatory filings. This marks the 14th Oleflex project that UOP has announced since the beginning of 2011, and the company's seventh Oleflex project in North America since the technology was developed.

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Honeywell's UOP has been selected to provide technology for
the world's largest on-purpose propylene production facility,
located on the US Gulf Coast, the company announced on
Thursday.

Ascend Performance Materials will use UOP's C3
Oleflex process technology to convert propane to
propylene, a key ingredient in the production of materials such
as nylon, films and packaging.

The Ascend propane hydrogenation (PDH) project will be located
at a site near Houston, according to US regulatory filings.

Petrochemical makers are installing
additional propylene capacity to meet growing demand and to
make up for the shortage of propylene production from
traditional refining and petrochemical sources, according to
UOP officials.

The Ascend project is the 14th Oleflex
project that UOP has announced since the beginning of
2011, and the company's seventh Oleflexproject in North America since the
technology was developed.

The combined Oleflex projects announced since 2011
will help increase propylene production by nearly 7 million tpy
globally in the next three years.

"Global propylene demand is growing at about 4 to 5 percent
per year," said Pete Piotrowski, senior vice president and
general manager of Honeywell's UOP process technology and
equipment business.

"The US is seeing an increase in on-purpose propylene
production because of the abundance of low-cost propane from
shale gas," he added. "Compared with competing propane
dehydrogenation processes, UOP Oleflex technology
provides the lowest cash cost of production, the highest return
on investment and the smallest environmental footprint.'

Ascend will install the Oleflex technology
at its facility to produce more than 1
million tpy of propylene beginning in 2015. In addition to
technology licensing, UOP will supply engineering design,
catalysts, adsorbents and selected equipment for the project.

"As Ascend continues to take the steps necessary for the
development of a propane dehydrogenation plant, one of our most
important decisions is the choice of technology," said Tim
Strehl, president of Ascend Performance Materials
Operations.

"We believe Honeywell's UOP process technology will provide us with the
best production advantage, and we look forward to our
partnership with them," he added.

Ascend describes itself as a global leader in
proprietary technologies that are essential to the production
of nylon, plastics and synthetic fibers found in commercial and
industrial products. Ascend has offices throughout the world
and five manufacturing facilities in the US.

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